US futures and European markets saw an upturn Monday morning as fears over rising bond yields began to fall.
Dow Futures saw an increase of nearly 1%, up 300 points to $31,206. S&P 500 Futures are also up this morning by 38.05 to $3,847.25 (+1%) with Nasdaq-100 Futures following the trend, up 146 to $13,057.00 (+1.15%).
The Stoxx 600 Europe rallies today, up 5.07 points to 410.06 (+1.25%). London’s FTSE 100 is up 88.21 points to 6,571.67 (+1.36%), signaling that European markets will follow suit with their American counterparts.
Asian markets saw gains as well, with Shanghai’s Composite Index (SHCOMP) up 42.32 points to 3,551.40 (+1.21%). Hong Kong’s Hang Sang Index (HSI) closed the day up 472.36 points to 29,452.57 (+1.63%) with Japan’s Nikkei seeing a massive spike of 697.49 points to 29,663.50 (+2.41%).
Investors believe this turn in the market is in response to US 10-year Treasury bond yields falling to 1.445%, down from 1.55% earlier in the week. Tech stocks were hit particularly hard from the rising yield rates, with the Nasdaq composite seeing a 5% hit last week.